Published January 26,2023
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Milan prosecutors are trying into final yr’s 1.2 billion euro ($1.3 billion) sale of AC Milan to U.S. non-public fairness fund RedBird Capital from U.S. fund Elliott, a judicial supply stated on Thursday.
Confirming earlier Italian media experiences, the supply stated Italy’s tax police are requesting paperwork from accountants and advisers concerned within the deal, including that no particular individuals or corporations had been underneath investigation.
The probe, which revolves round alleged embezzlement, originates from a grievance by Blue Skye Financial Partners, a minority investor holding an oblique stake of 4% within the Serie A membership, the supply stated.
Blue Skye had beforehand accused Elliott of violating its rights by partaking in “behind closed doors” talks to clinch a sale of the seven-time European champions and it has challenged the deal additionally in Luxembourg and within the United States.
Elliott, which took over the membership in 2018, billed Blue Skye’s authorized actions as “frivolous and vexatious”, that means it believes they don’t have any affordable foundation the truth is or regulation.
RedBird and Elliott had no quick remark when contacted by Reuters on Thursday, whereas Blue Skye didn’t reply to a request for remark.
AC Milan, who final yr gained the Serie A title for the primary time in 11 years, are at the moment second within the league. They had been for a very long time owned by media magnate and former Italian Prime Minister Silvio Berlusconi, who offered the membership in 2017.
Source: www.anews.com.tr
